Capitol Bancorp Completes Divestiture of Southern Arizona Community Bank

Capitol Bancorp Limited (NYSE:

) announced today that it has completed the sale of Southern Arizona Community Bank to Grandpoint Capital, Inc. Capitol Bancorp's Chairman and CEO Joseph D. Reid said, "This sale is a significant step in our widely publicized strategic divestitures initiative. We have completed 13 transactions since announcing our initiative, which has enabled Capitol to reallocate equity capital among our affiliates."